29,877 Shares in NNN REIT, Inc. $NNN Purchased by Orographic Financial Advisors LLC

Orographic Financial Advisors LLC bought a new position in shares of NNN REIT, Inc. (NYSE:NNN) during the 1st quarter, HoldingsChannel reports. The firm bought 29,877 shares of the real estate investment trust’s stock, valued at approximately $1,255,000.

Other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC raised its holdings in shares of NNN REIT by 3,354.1% in the 1st quarter. Root Financial Partners LLC now owns 1,278 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 1,241 shares in the last quarter. Ascentis Independent Advisors bought a new position in shares of NNN REIT during the first quarter valued at approximately $76,000. Hanson & Doremus Investment Management purchased a new position in NNN REIT during the fourth quarter valued at approximately $187,000. Crestwood Advisors Group LLC bought a new position in NNN REIT in the fourth quarter worth approximately $239,000. Finally, Parallel Advisors LLC raised its stake in NNN REIT by 11.0% in the third quarter. Parallel Advisors LLC now owns 5,713 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 567 shares in the last quarter. Hedge funds and other institutional investors own 89.96% of the company’s stock.

NNN REIT Price Performance

Shares of NNN opened at $48.09 on Friday. The company has a 50 day moving average of $46.59 and a two-hundred day moving average of $44.68. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 1.10. NNN REIT, Inc. has a twelve month low of $38.90 and a twelve month high of $50.00. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 7.53 and a beta of 0.80.

NNN REIT (NYSE:NNN) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). NNN REIT had a return on equity of 8.81% and a net margin of 41.38%.The business had revenue of $240.42 million for the quarter, compared to analyst estimates of $237.75 million. During the same period in the previous year, the company posted $0.87 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts predict that NNN REIT, Inc. will post 3.49 earnings per share for the current fiscal year.

NNN REIT Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 31st will be paid a dividend of $0.62 per share. This is a positive change from NNN REIT’s previous quarterly dividend of $0.60. The ex-dividend date is Friday, July 31st. This represents a $2.48 annualized dividend and a yield of 5.2%. NNN REIT’s dividend payout ratio (DPR) is presently 116.50%.

Analyst Upgrades and Downgrades

NNN has been the topic of several recent research reports. Wells Fargo & Company increased their target price on NNN REIT from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 15th. Weiss Ratings raised NNN REIT from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Huntington began coverage on NNN REIT in a research note on Wednesday, July 15th. They set an “outperform” rating and a $51.00 price objective for the company. Wall Street Zen raised NNN REIT from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Morgan Stanley lowered NNN REIT from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research note on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.57.

NNN REIT Profile

NNN REIT (NYSE: NNN), formally known as National Retail Properties, is a publicly traded real estate investment trust focused on acquiring, owning and managing a diversified portfolio of retail properties across the United States. As a net-lease REIT, the company enters into long-term, triple-net leases with national and regional tenants, shifting most property-related expenses, including maintenance, taxes and insurance, to its lessees. This structure provides NNN REIT with predictable cash flows and a stable income stream rooted in essential retail uses such as convenience stores, dollar stores, drug stores and quick-service restaurants.

Founded in 1984 and headquartered in Orlando, Florida, NNN REIT has steadily grown its footprint through disciplined acquisitions and selective lease underwriting.